Why These 4 NZX Stocks Are A Cut Above The Rest

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Why These 4 NZX Stocks Are A Cut Above The Rest

 Why These 4 NZX Stocks Are A Cut Above The Rest
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Summary

  • Kiwi Property Group’s GM, Property Investment, has indicated at his departure from the Company.
  • Fonterra Co-operative Group has forecasted its milk price for the 2021-2022 period.
  • PwC is the new auditor for Cavalier Corporation.

The Company announcements, release of bulletins, etc., might influence the investors' behaviour and market sentiments. Stock prices tend to move up or down depending on the positive or the negative news releases.

Source: Copyright © 2021 Kalkine Media

Let us have a look at the 4 NZX stocks bustling with the latest announcements and influencing market trends.

Kiwi Property Group Limited

Kiwi Property Group Limited (NZX:KPG) is a New Zealand-based property investment vehicle, which holds a portfolio of NZ$3.2 billion. On 26 May, the Company announced that its GM, Property Investment, Michael Holloway, will soon depart from the Company. Holloway was associated with KPG for about 5 years and would step down in the coming months.

On 26 May, at the time of writing, Kiwi Property Group was trading flat at NZ$1.220.

Read: KPG, AFT, NZR Announce Mixed Results-COVID-19 Impact Visible

Fonterra Co-operative Group Limited

Fonterra Co-operative Group Limited (NZX:FCG) has proposed its Farmgate Milk Price range between NZ$7.25-NZ$8.75 per kgMS for 2021-22. Its normalised NPAT clocked NZ$587 million, up 61% Y-o-Y and normalised EBIT stood at NZ$959 million, up 18% for the 9 months ended 30 April 2021, thus reflecting a strong balance sheet.

The Group is maintaining its full-year earnings guidance in the range of 25-35 cps.

On 26 May, at the time of writing, Fonterra Co-operative Group decreased by 0.58% at NZ$3.400.

Read: Are These 6 Biggest Stock Movers On The NZX Today? FBU, BLT, ZEL, FCG, NWF, SVR

Cavalier Corporation Limited

Cavalier Corporation Limited (NZX:CAV) prime businesses include broadloom carpet, wool procurement as well as yarn. PwC has been hired as the new external auditor of the Company. It is noted that earlier the auditing services were managed by KPMG.

Also, the Company’s Founder-Director, Grant Biel, is looking forward to his retirement at Cavalier Corporation’s annual meeting, which is scheduled for 25 November 2021.

On 26 May, at the time of writing, Cavalier Corporation was rising by 3.66% at NZ$0.425.

CDL Investments New Zealand Limited

CDL Investments New Zealand Limited (NZX:CDL) is engaged in the property investment business and primarily invests in the premium residential sector.

The Company held its annual shareholders' meeting on 25 May, wherein resolutions were passed for the re-election of Vincent Yeo, BK Chiu, Colin Sim and Desleigh Jameson as the Directors of CDI.

The Company has witnessed record sales across its expansion areas in Hamilton, Auckland, Christchurch, and Hawkes Bay.

On 26 May, at the time of writing, CDL Investments New Zealand was rising by 0.92% at NZ$1.100.

Read: 6 NZX Stocks That Flourished And Dwindled Today- BIT, BRM, CGF, BLT, RUA, CDI

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